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remains very weak, the job market not recovered, congress has literally set a trap for the recovery. when they were setting that trap, they told us, don't worry, they would disarm it, well before it ever became a problem. it's there to make them do something even better. but now it seems like it's going to become a problem. in a sane political world, here's what we would be doing right now. we have high unemployment and we can borrow for nothing, less than nothing once you account for inflation. we'd be putting people back to work, rebuilding infrastructure, cutting taxes for businesses that hire people. cutting taxes for middle class people generally, and investing in the future of the country. the future of our infrastructure and jobs. meanwhile, we'd agree to a deficit reduction package that would trigger the moment unemployment fell below 6.5%. instead we're not going to do enough deficit reduction from later and we'll hang for recovery along the way. by that, i mean terrible job. it's impossible to overstate how dumb this whole thing is. which leads us to number five, the fifth and f
is over and most people have the day off. >> we have a dysfunctional congress, but the politicians are still pretending to work. >> people don't like congress. >> it is up to the senate to act. >> harry reid is working on legislation. >> harry reid, the congress and the president. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >> we're going to head over that cliff. >> i know it's hard for the republicans. the minute those leaders move forward, they get viscerated. >> guns shouldn't be available for anyone, any time, anywhere. >> the conversation still wages on. >> its plan to add more guns to schools. >> a completely dumb-ass idea. >> i don't think the nra is listening. >> you can call it whate
, congress passed the fisa amendments act, the bill that we are considering on this floor today. we're considering a reauthorization. this law gave the government new surveillance authorities, but it also included a sunset provision to ensure that congress examines where the law is working and the way it was intended. now, the debate we're having right now on this floor is that reexamination. i will just note that i think it's unfortunate that we're doing this at the last second. we have known that this intelligence law is going to expire for years. it was laid out for a multiyear span. and certainly, it is irresponsible for this chamber to be debating this bill under a falsely created pressure that it needs to be done without any amendments in order to match the bill from the house. that is a way of expressing debate on critical issues here in america. if you care about the fourth amendment, if you care about privacy, you should be arguing that we should either create a very short-term extension or -- to have this debate fully or that we should have this debate months ago so it cou
of handguns. 3 by unknown firearms. >> i call on congress today to act immediately to appropriate whatever is necessary to put an armed police officer in every single school. >> that is the security stance of the national rifle association. in a texas school district, armed teachers do not protect the students. armed teachers due. >> many different people can be taught to act effectively guard others with firearms. >> but one lawmaker will vote against the that. >> for those who have a concealed carry permit, you cannot have that gun in a place where there is going to be children. you cannot bring it into a youth center, a library. you can most certainly not bring it into a school. this madness must stop. >> one more comment from state senator ferguson. he says this is a complex problem and it will take a complex solution. reporting live from the newsroom, barry simms, della's >> thanks, barry. 3 people have been charged in the death of a 21-year-old baltimore peon -- baltimore man. police say that asia la'trice cutler told her boyfriend donte harris. police say that's she told police she
of congress that they might forge a solution to assuage the concerns of their fellow citizens. >> reporter: house gop leadership is did call members back to work this sunday, prepared to work through new year's. republican leaders say they would give in on higher taxes, but not more government spending. >> republicans aren't about to write a blank check or anything senate democrats put forward, just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: beyond the bitter politics is a real-world consequence. >> anyone who has regular salary or wage income, starting next week, is going to see 2% less in their paycheck because the payroll tax holiday will end. so start to budget for that thing right now. >> reporter: and other kinds of taxes will go up too, like higher rates, so american families will feel it even more. but if this does go past january, there is a political reset. instead of congress voting to raise taxes, all those rates will have gone higher, so they're able to say they're voting to lower some taxes, and that makes a
for action. the latest news out of washington tonight, treasury secretary tim geithner told congress that the country will hit the debt ceiling on december 31st, new year's eve, some two months earlier than expected. but there is still no date yet on when the house of representatives will be called into session to veto a vote on any deal. president obama cut his hawaiian vacation short and is due to land in washington tomorrow. but if politicians aren't feeling enough urgency, the american people certainly are. a new gallup poll shows that 50% of americans think a deal is likely. that's down nine points from just a few weeks ago. if we go over the cliff, it will affect all of us. if you're a family that makes $50,000 a year, your taxes will go up by $2,000. if you make $100,000, your taxes will go up by $4600. the combination of tax hikes and deep spending cuts could end up looking a little bit like this, over the cliff in a free fall. whiskey and cigarettes in hand. "outfront" we have the view from both sides of the aisle. democrat from arizona and republican from wisconsin. earlier
. the nation thereafter can't pay the bills unless congress raises the limit. >> with a new congress in january we need to revisit an finally give ourselves the determination to solve not only our short-term debt but the long-term debt. >> they raised the debt limit 11 times in a decade. most recently in august 2011 after a bruising political fight. democrats accuse republicans of using the debt limit as political "leverage" to press for spending cuts. a point they tried to make with a jarring comparison. >> this is somewhat to taking your child hos tam and saying i'll shoot my child if you don't do what i want done. you don't want to shoot your child. no leader wants to default on the debt. >> they said there is breathing room and the treasury department will take extraordinary measures authorized by law. that will create head room under the debt limit. under normal circumstances circs that amount head room would last two months. but it's difficult to predict how long the money will last. where does the money come from? they will raise retirement fund and there is a slush fund from the exchang
expectations they've had for two years now essentially both sides the white house and the congress advocating their way of getting it done. >> the barrel they're riding in them, the dysfunction around them. >> house republicans have walked away. i was there at the house conference meeting when he says we're not having a vote on plan "b." we're in this horrible standpoint right now. asking harry reid to ask and president obama to act. >> harry reid's his lifeline. let me ask you this. everybody watches politics. this isn't cnbc here, it's politics. let's get a couple things straight. you say right now that today it's a democratic advantage. obama looks like the guy is trying to get it done. republicans are the holdouts. >> it's not just me. look at the gallup reports. republicans have been going down. >> obama's 54%. right now it's a democratic advantage. >> democratic advantage right now. >> midnight monday still a democratic advantage? >> no. if you go over the cliff, everyone's in trouble. >> wednesday morning next week which is only a week away and we're into 2013 and no deal's been made,
around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
, thank you very much. [applause] >> next, and to raise with to retiring members of congress. dan burton of indiana talks about his 30 years in congress. followed by senator kent conrad on his 26-year career. and a discussion on corporations and stock values. dan burton is retiring from the house this year after 30 years in office. the 15-term congressman represents the fifth district in east central indiana which includes parts of indianapolis and the surrounding suburbs. earlier he talked with c-span about his past investigations of the collective demonstration and the oversight ruled congress. this is 30 minutes. as you exit the institution how would you say it stated? >> it has changed a great deal. it is not the same as when i came 1983. there seemed to be more comedy. tip o'neill was speaker. i will never forget he was the first time he was on the floor raising cane with democrats. he had someone take his place and he came down and started giving me the dickens. after that we became very good friends and played golf together. michael was a wonderful leader. there was a spirit of ca
. doing something now prior to the new congress to come in, could threaten the re-election as speaker. if he can put this off until he's firmly established the speakership for the next congress, and then does a deal, presumably he would be buying himself some more time. i guess. i'm trying to think what's forcing this man to do this but you heard the congresswoman bass say if you would bring it up for a vote, anything, either the president's office or passed through the senate, bring it up for a vote and we might see some traction there. he's clearly afraid to get something passed in a bipartisan fashion. >> go ahead. >> i mean, look. the irony here is by virtue of doing nothing by january 1st and the democrats are not shrouded in glory. i don't think reid's comments are helpful but by doing nothing, they do something and literally more than they've been able to do for the past four years which is a draconian and effective revenue enhancer and spending decreaser. i don't think this is the way to go about our long-term fiscal health. >> yeah. >> but weirdly enough, their inactivity lea
. >> just procedurally too, that takes time. and congress notoriously moves slowly. one wall street economist suggested, and this caught my attention, bun ji jump off the cliff. meaning we'll bounce back afterwards meaning once the tax hikes goes into effect congress will have no choice. they will have to introduce a bill that everyone can agree on. what's your take on that. what are your congressional sources saying to you privately? >> they are saying the betting money is on that right noug. it's an interesting way to put it. the whole concept of taking a vote in the next five days on anything would effectively would be to raise taxes. each of the senators would be taking a vote that somebody can use against them saying they voted for a tax increase. after january 1st, everybody's taxes will go up so the vote that they can take would be to cut taxes, a very different vote politically. if you look at the calendar with regard to the bun ji jump, the 1st of january is a holiday. wall street is not trading that day. so there would be probably a very negative effect on january 2nd. the
the congress, when there are big issues and big challenges for the country, we come together and we deal with it. i'm particularly concerned, for example, about some of the effects that going over the cliff will have on vulnerable senior citizens. that was my background. the presiding officer and i have talked often about health care and seniors. my background was serving as codirector of the oregon gray panthers. if you have, for example, the reimbursement system for medicare, in effect, go over, you know, this cliff, that's going to reduce access to health care for senior citizens across the country. and i don't believe that there are democrats and republicans who want that to happen. so, as the majority leader indicated, finding some common ground on this issue and backing our country away from the fiscal cliff is just hugely important, crucial to the well-being of our country, and i just wanted to start with those remarks. also crucial to our country is the legislation before the senate right now. it's name is a real mouthful, mr. president. i think you'll recall from your days ser
the holiday, but certainly now, particularly if you remember for congress broke for the christmas break, speaker raynor was not able to get the backup plan through his caucus, so there was no pressure on democrats to try to counter that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering. house republicans were saying, no, we want to negotiate something, figure it out and send it to us. someone is going to have to move. the question is, who? the president met with senate majority leader harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across -- and then delay the across the board automatic cuts that are supposed to start january 1. that seems to be a non starter with republicans. it's hard to see where we go from here. host: have they been talking over the christmas break at all? also, one has been the role of -- what has been the role of senator mitch mcconnell? guest: the line that
up, how long will it be before boehner and some of those in the congress say i just got to say this is killing our party and is hurting the nation. >> i think john boehner is well aware of the pickle that the party is in. this is a guy who is a pragmatist on some level. but the question is what can he do? you have a base. and the purists are in control of the primary elections and you wind up with a house that doesn't agree with compromise. any time boehner gets too close to some kind of compromise that they don't like, they are standing there with knives ready to kind of oust him and put somebody else in there. >> she's absolutely right. that idea of ideological purism. you're starting to see this. you're starting to reference the give up debate. they don't want any change, even with 20 babies dead in newtown. they want no new laws. we really have almost no laws restricting guns at all. but they want no new laws, no new change. so they move from the party wealthy, now to the party of glocks. they say don't want people to have the right to bear arms, but they want to have peopl
for it. welcome to "the willis report." hello, everybody. i am gerri willis. tonight congress is pushing america up a fiscal cliff of its own making. president obama and the senate back in washington today trying to get some kind of a deal done, that is what they say, but nothing will likely come in time. harry reid spent the day moaning about how bad of a speaker john boehner is good the house is set to return sunday afternoon just one day before the end of the year. nearly 90% of americans will be hit with $500 billion in tax hikes and spending cuts. as we head off a cliff, what can you and your family expect come january 2? president of the american action reform joins me now. so, windows narrowing, what can we expect from here? >> if we literally go on autopilot and they fail to change course, i am worried about the economy. some sharp equity market attractions, consumer confidence has already begun, lots and lots of notices sent out, layoffs scaring people to death. this is not a good news story for anybody looking for a job. gerri: the clock keeps on taking. the cover of "the new y
in this country that was created to create this country as an ungovernable state. you have congress, the president canceling each other out. how the president -- whoever the president might be -- do anything? you have china -- finding it impossible to provide a replacement for the demand that the west has done away with. so, i do not have an answer for your question. bewilderment. >> my question is about consumer demand and the extent to which the old system depended on it. if we do not have it to the same degree, could there possibly be a new economy? i cannot know how to say all of these in the right economic terms. i will say what i am thinking and see what you make out of it. its teams like all the economy's got to a point where it had to be based on growth. it could not just be sustainable. it had to grow. and that meant more consumers. so, then, that led to a lot of things ecologically that were not good for the earth's, things that people did to maximize profits. so, that is one thing. is there the possibility there might be a new economy that is not based on growth? second, if you do not h
to be really hard to see a way out of that. >> reporter: if congress does not act before the end of the year, the public's reaction will determine how fast congress moves to fix the damage. >> what forces action after we pass the deadline is the public reaction to it. and so i think the big question is going to be what happens in the real economy, how frustrated are average americans that their paycheck is meaningfully smaller? and if that is a massive reaction, then they'll get a quick response. >> reporter: while u.s. markets have been fairly weak lately, they have not yet registered true alarm at the prospect of deadlock in washington. it seems many investors see the fiscal cliff as a slope that will only gradually impact the economy. but washington analysts believe investors may be underestimating the prospect 2013 will roil the economy with a series of fights over taxes, government shut downs and debt limit increases. >> i actually had one hedge fund manager say to me, "oh, they'd never allow to go over the cliff, because they, they being members of congress, would be embarrassed by thi
. there are people in congress. i think wall street is now the number-one contributor to political campaigns. at least, it is in the running for number-one. i have been to washington many times and i'm involved with several groups that are trying to reform the business sector so that it can work, so that it can survive. it is very difficult because of the sheer amount of money that the finance sector in particular is pouring into lobbying and campaign contributions. it is very difficult. >> let's give a round of applause for lin. -- lynn. [applause] there is an opportunity for you to purchase and have the but signed. if you have court-further questions, she will be here signing books. thank you all and have a safe trip home. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> all this month we have been talking with retiring congressional members. join us later tonight for a sixth-down we recently had with nebraska democratic senator ben nelson. he served two terms and was part of the so-called gang of 14. that is at 8:00 p.m. e
congress itself is the biggest rewarder of potential misconduct. >> being in congress gives you not just a golden parachute, you get a platinum one. >> reporter: former california congressman duke conning ham received his pecks after being imprisoned for his misconduct. . >> congress recently did expand the number of crimes for which its members would be stripped of their pensions and the u.s. house just passed a bill making it harder for federal workers who are suspended from the job to keep getting paid during that suspension. but that's not yet law. >> that was macfarlane reporting. >>> a national study has found modest declines in obesity in toddlers in poor families. researchers say the obesity epidemic may have peaked in kids between the ajs of two and four -- ages of two and four. scientists say school exercise programs are one reason for the change. broad changes in health and eating activities are also thought to be factors. >>> san francisco city officials are looking at a plan in which they would pay employees to make healthy choices. a new study those two-shirdz of the city
>>> if you're a member of congress and a member of the tea party, who's your boss, john boehner, m.i.t. rom mitt romney? don't bet on it. the angry man or woman in the back row of the tea party, the angry one that stands up and scolds him, you betrayed us, you are one of them. do they want to be the person who voted with the party leadership or worse yet, the democratic president, or the one who voted against all of that and stayed true to the purity of the tea party dogma, no taxes, no deals, no compromises, no nothing, period. this is the wall the tea party have raised up, the wall beyond which people who captured. what they campaigned against was spending money on government, that is what taxes are. got it? and that's hardball for now, thanks for being with us "the ed show" with ed schultz starts right now. >>> good evening, americans, welcome to the ed show. i'm michael eric dyson in for ed schultz. the president cuts his vacation short to come back to washington, d.c., meanwhile, house republicans are literally phoning it in, this is the ed show, and as ed would say, let's get
cliff. with just four days until the deadline can president obama and congress still pull out a deal in the nick of time? senator john hoeven of north dakota joins us to respond. >>> plus, a game-changer for the insurance industry. an auto insurer unveils new policies that charge by the mile, giving a big potential boon to drivers. can it drive the competition off the road? the ceo of metro mile is here to take the wheel. >>> and big beer companies putting beer goggles on their customers. the market for kraft beer is booming and big labels are battling to get a foothold but they may be using crafty tactics to sell you the same flat brew in different packaging. less filling tastes great. even when they say it's not it is always about money adam: before we serve you that beer let's look at the day's market headlines. stocks fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows following word the house would reconvene this weekend. the dow lost 18 points. >>> jitters over the fiscal c
in washington this afternoon. the lines of communication between the president, leaders of congress are open. whether those lines are used repeatedly over the next few days to reach a fiscal cliff deal is anybody's guess. joining me now for our daily fix, nbc's kelly o'donnell is live on capitol hill. kelly, i want to start with you. senator scott brown just tweeted out to all his followers that he was getting on a plane heading to washington. the president has apparently sent over a new deal to the senate. what can you tell us about this new fiscal cliff deal that president obama has sent over to senator leaders? >> well, the power of social media to get the word out. gop sources say in the conversation with the president, he indicated that he does have a bill he would like to bring forward to the hill today. they have not seen that. it would be a package to deal with averting the fiscal cliff. we can infer from that with what the president said before he went to the family vacation in hawaii that he wanted something that would be scaled down, not a massive grand bargain that would protect
, president obama will not send legislation to congress today that might avert the so-called fiscal cliff. the president pulled the plug on his holiday trip to hawaii and arrived in washington shortly after 11:00 in hopes of prodding congress to lock in taxes for all but the wealthiest 2%. so a republican source told us he would be sending legislation to capitol hill, but the white house is telling us no, that is not the case. you have the president there at the white house. you have the senate in session and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we a
hanging over the budget talks in washington. in a letter to congress yesterday, treasury secretary timothy geithner warned the government would hit its legal borrow i borrowing limit i limit by monday. geithner says the treasury will be forced to take, quote, extraordinary measures to keep paying the bills. he also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise can't be reached by next week on those big unanswered issues. with both sides locked in the standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts and incomes below $250,000, prolong unemployment benefits, and delay those sweeping spending cuts. sam stein. >> yes. >> what happens in -- and it appears it will happen -- we go off the fiscal cliff for a few days? >> not much, is my understanding. kwb, over time, it will have much more of an impact, and it's unknown exactly what the market's psyche will do with respect to the government's inability to come together. with respect to the tax hikes,
on taxes. >> i asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans. lays the groundwork for further work on growth and deficit reduction. >> that means taxes go up for some now and spending cut on medicare and other programs are kicked to another date. >> what the president offered so far won't do anything to solve the spending problem and begin to address the crippling debt. >> gallup in early december saying 58% of the public thought we'd avert the fiscal cliff. new poll shows it's dipped to 50% thinking that. the public thinks we are headed for a big problem. >> doug: breaking news from treasury secretary geithner it go about the debt ceiling. are we about to go to default? >> yes and no. secretary gite it go says today that we will hit debt ceiling on december 31, new year's eve. it only buys a couple of months. it proves even if we get through the fiscal cliff situation we are headed for a major showdown next year. >> doug: ed henry traveling with the president in honolulu. what
to hit $16.4 trilli $16.4 trillion borrowing limit. in a letter to congress timothy geithner says he will take several accounting measures to start the new year that. will keep the gvtmeovernment from reaching the limit until a fiscal deal is reached and the economy can save off the debt. >> let's talk about toyota? >> owners of 60 million lexus and cars from 1998 to 2010 may be getting some cash. toyota has agreed to pay more than a billion dollars to settle a class action lawsuit. toyota will create a fund for retrofitting more than 3 million cars of technology that makes it easier for them to stop. in late 2009, all of 20010 due to lower resail value of the car. toyota has not admitteded any guilt on this topic. >> they get a big chunk of change and the car owners a little bit. >> for many passengers air travel is about finding the cheeps air fair. as airlines offer more and more add-ons from early boarding to premium seating to baggage fees that ability to comparison shop is pretty much impossible. the on-line ticketers like expedia and other bits complain airlines won't provide
sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts and new taxes will push the economy back into a mild recession by mid-2013. the impact of some of these cuts and taxes would not be felt immediately on january 1. that's because the i.r.s. and other agencies didn't expect it to come to this, and so it will take a few weeks for workers to see more money being withheld in their paychecks, jim. >> axelrod: nancy cordes with the president in hawaii. thank you. there is new evidence that the housing market is coming back. a report out today showed home prices were up 4.3% in october compared to last year. prices rose in 18 of the 20 largest cities. tonight, 88-year-old george h.w. bush remains in a hospital in houston where he's been since last month battling a bad cough. the former president now has a persistent fever. bob orr joins us now from washington with details. bob. >> reporter: good evening, jim. well, a spokesman for the bush family says that former president george h.w. bush is in "guarded condition," with
of those same materials. i believe that it's critical for both congress and the public to have access to information about the impact of these fisa authorities on the privacy of individual americans. only with such knowledge can we reasonably assess whether existing privacy protections are sufficient or whether reforms might be needed. yet, senior intelligence officials have declined to provide in a public forum the necessary information to such discussion and such analysis. in particular, it's essential that we learn the extent to which americans communications are collected under fisa, whether this includes any wholly domestic communications and whether government officials subsequently searched through those communications and conducted warrantless searches of phone calls and e-mails related to specific american persons. this modest compromise and this modest commonsense amendment requires the director of national intelligence to provide this information and report back to congress regarding the privacy impact of the fisa amendments act. given the sensitive nature of this informati
of the united states congress is deeply divided according to party, so is the united states in court. and this is a moment of real partisan division of the supreme court. and that is exemplified in case after case. why this moment is so important, i think, you need to go back in history two different. a time when the supreme court was unified. in the 60s it was not as divided as it is now. there were several liberals in the late days of the warren court. and there was a real liberal agenda. every saturday morning, chief justice warren and his friend, william brennan would be together and they would say what we want to take her case is? they had case is about cases and the law. in 1964, [inaudible] justice william douglas had griswold versus connecticut, so that married couples could not be denied the right to buy birth control. 1956, chief justice warren volution eyes criminal procedure and perhaps more importantly, changing television dramas forever. [laughter] 1967, perhaps the best named case in supreme court history. what was the case? state could no longer bear him racial interm
>> there is a president leaving hawaii and now he and congress have to figure out what to do about the upcoming fiscal cliff. >> we are taking it outside, this is the roof cam from downtown san francisco. we are still lit up over this and it's as the skyline. we are enjoying clear skies and the mergers are in the 40's. dry, sunny conditions into the afternoon. we will continue to see mostly clear skies as we head into tonight. it is kind of cold out there, out 40 in vallejo and fairfield. oakland and san francisco coming in at 47 degrees. we're expecting mainly low 50s today we'll talk about how much rain we are expecting coming up in my next report. >> we continue to look at light traffic at bay area bridges. we have just a bit of a delay in the left-hand cassoulet and likely associated with the shift change with toll takers. the east bay and south bay peninsula still have light traffic on the freeways. >> the time is 6:01 a.m. and one person is that after an officer involved shooting in walnut creek. will tran is live on the same. >> good morning i just finished talking to the wa
this deadline close has practically become an annual holiday tradition for congress the past few years. 'back in 2010, they passed the amt patch on christmas eve. in 2008/2009, they actually passed it in january and set it retroactively. uncertainty surrounding the amt has the internal revenue service on its toes. the tax agency has warned congress that if no new policy is passed, the irs will need to reprogram its computers, forcing a delay in filings and tax refunds until march of 2013. president obama and members of congress are set to return for one day more of talks to avert spending cuts at the same time tax cuts expire. one alternative being floated - congress may let income taxes go up on everyone one tick past the stroke of midnight, then quickly vote to decrease tax rates for most americans back to 2012 levels. meanwhile, starbucks ceo howard schultz wants his employees to send a message and scrall, "come together," on cups for drink orders in the d.c. area. it's the first time employees have been asked to write anything other than customers' names on cups. former members of a regul
're still in the middle of wondering what congress is going to do about it, companies are already holding back hiring so that is clearly impacting the jobs market but the good news once again is the layoffs are slowing, down 12,000 to 350,000 last week. carol? >> thank you very much, washington. alison kosik thank you so much. >>> growing outrage over the decision of a new york newspaper to publish a map with the names and addresses of people who have gun permits. the interactive map was created with information available publicly. it pinpoints the location of legally licensed permit holders for handguns. we reached out for a statement from the newspaper, it sent us this, "the massacre in newtown, connecticut, remains at top-of-mind for many of our readers. or readers are understandably and keenly interested to know about who owns guns in their neighborhoods." scott summervila is president of the westchester new york fire owner association. he is on the list and joins me this morning. >> good morning, how are you? >> i'm good. you opened the newspaper and see your name, is that how you fo
members of congress are coming back earlier than others. there will be some meetings here, there have to be some meetings between the principals and the president. there are a couple of options in the last couple of days even though it seems like five days is terribly, terribly short. there shall bills floating out there to keep tax rates where they're at for people making $250,000 and below. that could slide around. there's a senate bill that floats around. there's the president's offer which could still be amended. option 3, of course. is to go over the cliff and fight this out on january 1. >> warner: are there any meaningful back-channel negotiations going on? >> leadership aides on both sides say the channels have been open even during the christmas break. when the president called senator mcconnell and others last night, senator mcconnell made clear to say that's the first time he's talked to a democrat since thanksgiving. now that sounds like they haven't been talking at all but that's not true because we all know the president and the speaker have been engaged in close negotia
>>> the markets are nervous, americans are concerned and congress says it can't get it done. it's "back to the future" on capitol hill. it's december 27th and this is now. i'm ari in for alex wagner. with me today, ben stein. steve cornaki is joining us, as well. president obama returned to washington moments ago, cutting short his christmas vacation. the president has now spoken with all four congressional leaders, according to the white house communications director he. the house remains on vacation, but there are a few signs of life in the capital. gop leaders have released a new statement with an old message to the senate. the ball is in your court. the statement says the house will take action on whatever the senate can pass, but the senate first must act. well, this morning, senate majority leader reid slammed the house republicans not not even showing up. >> if we go over the cliff, and it looks like that's where we are headed, the house of representatives as we speak with four days left after today before the first of the year aren't here with the speaker having told the
realize at that point that this cliff has been gone over and the congress has failed to meet its own targets which it set itself when it set this cliff up, who will pay the price if say the market drops 500 or 1,000 points and keeps dropping for two or three days and that creates the chances for a second dip, a second recession. who will be responsible for that occurrence if it happens? >> i think right now people will say republicans will be responsible, but it will have the effect if that happens for, as you point out, a couple day it's, a couple weeks to also hurt president obama because he is also steer -- >> i agree. >> he's a guy who if the markets are tanking people look to the president and say why don't you do something, get these guys to get on board -- >> i understand. >> and get it done. >> i think you're right. i think everybody gets hurt but mostly republicans. late today on the senate floor majority leader harry reid said what has become more and more obvious. the prospect of reaching a deal to avoid the fiscal cliff before january 1st a very unlikely. that's putting i
are scheduled. >> congress has five days to strike a deal before the end of the year deadline. >> they're calling it the fiscal cliff. [ speaking foreign language ] >> john boehner seems to care more about keeping his speakership than about keeping the nation on firm financial footing. >> let's take the american people out of the line of fire in terms of taxes. >> it's being operated with a dictatorship of the speaker. >> i have never known john boehner not to have a plan. >> it seems pretty dark right now. >> it looks like there's no way there's going to be any deal done. >> so i say to the speaker, take the escape hatch we've left you. >> we're not going to get anything done that doesn't involve some measure of compromise. >> it's not 100% sure that's going to work any longer, and now that we know how fanatical the fanatics are. >> it's like blah, blah, blah. >>> a very busy day here in washington and we want to take you right to the senate floor where senator mitch mcconnell is actually speaking about the fiscal cliff. let's take a listen. >> we'll see what the president has to prop
of lipow associates. >> i think it is waiting on congress to do something. in the meantime, we have seen the dollar weakened against the euro. liz: we have gas around $3.25. what if we go over the fiscal cliff? >> if that is the case, i see us going down to about $2.10. liz: if we go to $82 a barrel, what will the forecast before june and july? in the past, the nation has gone through some kind of panic attack expecting five dollars for a gallon of gas. >> i do not see five dollars at all next year. i do not even see four dollars. i expect $3.75 to be the height of the peak. what i expect is nothing will happen until the new year when both congress and the president come back. they enact new tax cuts. neither side is interested in any sort of significant spending cuts. liz: where do you see oil and gas prices in that scenario? >> well, in that scenario, i think oil prices could rise if we just had the tax cuts because the spending will continue unabated and the dollar will get weaker and commodity prices will get higher. liz: thank you. let's stay with oil. we will bring in our very own
seeing that congress and the white house have not reached a deal. >> for those of us keeping score, if there's a fiscal cliff deal, there will be a new senator voting. >> that's right. sworn in a new minutes ago. i made reference to vice president joe biden, here to swear in the new senator representing hawaii, brian shatz. only the circus senator -- sixth senator to represent hawaii. he's a democrat. it will be interesting to see exactly how he weighs in at some point over the fiscal cliff mess in the final days of 2012. >> mike, thank you. on top of those fiscal cliff concerns, the treasury secretary, timothy geithner, warns we're set to hit the debt ceiling new year's eve, the max amount we're allowed to spend. the current limit is $16.4 trillion. he says the obama administration will work to make sure the u.s. does not default on loans right away but the debate will be another drag on the economy. with us, the chief business correspondent for u.s. news and world report, rick newman, and author of rebounders, how winners pivot from setback to success. talk about the debt ceiling
people's congress are billionaires now. >> i also learned that you like me do nothing on new year's eve. >> not nothing, you just don't do it with strangers. >> i'm happy to make it. absolutely. but here's something for you. you are watching "morning joe." here's what happens. right now it's time for that. take it away. >> aloha, hawaii. the president is on his way back to d.c. where for him it's about playing small ball with most members of congress still in their home district, speaker boehner put that ball in the senate's court. harry reid tossed it right back. are we looking at another lost day in the negotiations? hitching a right on air force one, the new senator from hawaii and it's not what we expected it to be. here we go again. the president in washington and another deadline. secretary geithner warns we will hit the debt ceiling even before we tumble over the fiscal cliff. good morning from washington. it is thursday, december 27th. this is "the daily rundown." i'm luke russert. two days after christmas and washington is back to work trying to harsh out a deal to avoid the fi
open after the fiscal cliff and i'll throw a second number, one week until the new congress begins, so they are hard up against some big deadlines. >> the market implication is important because markets have done very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do so. we'll be talking more about that later in the show. lisa, thanks so much. we'll check in with you later. >>> piling on the concerns, treasury secretary tim geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his c
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